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Extended Stay America, Inc., headquartered in Charlotte, North Carolina, is the operator of an economy apartment hotel chain in the United States and Canada. Prior to June 2021, when the company was acquired by Blackstone Real Estate and the Starwood Capital Group, it was publicly traded as a "paired share" with ESH Hospitality, Inc. , a real ...
Wayne Huizenga was his business partner in the creation of Extended Stay America and later was involved in the creation of a major Blockbuster franchise, which eventually included 208 stores. [6] The pair later merged with Blockbuster, where Johnson was named a company president. [6] [7]
A year after the bankruptcy, Blackstone was sued by creditors of Extended Stay America alleging that Blackstone "skimmed" US$2.1 billion off of the sale to Lightstone and knew that the amount of debt would have been unsustainable for the hotel chain; Blackstone settled the lawsuit in June 2013 for US$10 million. [11]
The Tri-Cities is the region comprising the cities of Kingsport, Johnson City, and Bristol and the surrounding smaller towns and communities in Northeast Tennessee and Southwest Virginia. All three cities are located in Northeast Tennessee, while Bristol has a twin city of the same name in Virginia.
The $200,000,000 development was partially funded by the City of Bristol, which provided $25,000,000 for the Public Infrastructure portion of the project. Johnson estimates that the first phase of the complex will create 2000 jobs, and add $200 million in annual sales to the local economy. [ 6 ]
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